The Secretariat of the Tool Branch of the China Machine Tool Industry Association has collected and organized customs data on the import and export of tools (cutting tools, measuring tools, measuring instruments) from January to September 2024, and conducted calculations and analysis for industry reference.
The export value of instruments was 1.565 billion yuan, a year-on-year increase of 12.54%. Among them, the export value of measuring tools was 1.117 billion yuan, a year-on-year increase of 7.36%; The export value of measuring instruments was 448 million yuan, a year-on-year increase of 27.93%. The import value of measuring tools and instruments was 984 million yuan, a year-on-year decrease of 16.39%. Among them, the import of measuring tools was 192 million yuan, a year-on-year decrease of 35.39%; Imports of measuring instruments amounted to 792 million yuan, a year-on-year decrease of 9.96%.
1. Analysis of Tool Import and Export
From January to September 2024, the export value of cutting tools was 18.987 billion yuan, a year-on-year increase of 11.64%, and the import value of cutting tools was 6.358 billion yuan, a year-on-year decrease of 1.88%. The export value is 2.99 times the import value, with a significant increase in exports and a slight decrease in imports.
The main varieties and amounts of tool exports from January to September 2024 are: drill bits (6.523 billion yuan), circular saw blades (3.361 billion yuan), interchangeable tools (2.203 billion yuan), blades (2.187 billion yuan), milling cutters (1.707 billion yuan), tapping tools (795 million yuan), superhard hole machining tools (532 million yuan), superhard interchangeable tools (402 million yuan), and bimetallic band saw blades (389 million yuan).
The export of most types of cutting tools increased year-on-year. Among them, drill bits increased by 18.21% year-on-year, other milling tools increased by 18.3% year-on-year, boring or reaming tools for superhard material working parts increased by 17.16% year-on-year, unlisted interchangeable tools for other material working parts increased by 14.33% year-on-year, coated blades increased by 5.6% year-on-year, non coated blades increased by 6.60% year-on-year, but taps decreased by 4.14% year-on-year.
Figure 1 Classification of Tool Exports from January to September 2024
The main varieties and amounts of imported cutting tools from January to September 2024 are: blades (2.84 billion yuan), drill bits (824 million yuan), milling cutters (709 million yuan), tapping tools (619 million yuan), interchangeable tools (372 million yuan), superhard interchangeable tools (185 million yuan), and boring and reaming cutters (163 million yuan).
The import of coated blades increased by 2.74% year-on-year, while the import of uncoated blades decreased by 12.08% year-on-year.
Figure 2 Classification of imported cutting tools from January to September 2024
In terms of the import and export of hard alloy blades from January to September 2024, the import value (2.713 billion yuan) was 1.34 times that of the export value (2.017 billion yuan). The ratio of import and export blade amounts has further narrowed. The export value of coated hard alloy blades increased by 5.6% year-on-year, while the import value increased by 2.74% year-on-year. The export continues to grow, and the import continues to grow. The export value of uncoated hard alloy blades increased by 6.6% year-on-year, while the import value decreased by 12.08% year-on-year, with export growth and import decline.
The main sources of imported coated blades are Japan, Sweden, Germany, Israel, India, the United States, and South Korea. Non coated blades are mainly imported from Japan, Germany, South Korea, Thailand, Taiwan, China, Luxembourg and the United States.
The main export destinations of coated blades are Russia, India, Germany, the United States, Türkiye, South Korea and Singapore. The main export destinations for uncoated blades are Russia, the United States, India, Germany, Japan, Mexico, and Singapore.
From January to September 2024, among the export varieties of cutting tools, drill bits have the largest export volume, and the main export destinations are the United States, Germany, Russia, the Netherlands, South Korea, India, the United Kingdom, etc.
In terms of the unit price of imported and exported cutting tools, compared to products with the same product code, the price of imported cutting tools is much higher than the export price. For example, the average import price of coated blades is about 2.96 times the average export price, uncoated blades are 4.28 times, and taps are 8.79 times. The tool varieties with significant changes in export unit price include: milling cutter unit price decreased by 1.59% year-on-year, drill bit unit price increased by 2.99% year-on-year, tap unit price decreased by 8.65% year-on-year, bimetallic band saw blade unit price decreased by 8.86% year-on-year, coated blade unit price decreased by 2.96% year-on-year, and non coated blade unit price increased by 0.78% year-on-year.
2. Analysis of Import and Export of Measuring Tools and Instruments
From January to September 2024, the export value of measuring tools and instruments was 1.565 billion yuan, a year-on-year increase of 12.54%. Among them, the export value of measuring tools (micrometers, calipers, and gauges) was 1.117 billion yuan, a year-on-year increase of 7.36%; The export value of measuring instruments (coordinate measuring instruments, contour projectors) was 448 million yuan, a year-on-year increase of 27.93%.
From January to September 2024, the import value of measuring tools and instruments was 984 million yuan, a year-on-year decrease of 16.39%. Among them, the import of measuring tools was 192 million yuan, a year-on-year decrease of 35.39%, and the import of measuring instruments (coordinate measuring instruments, contour projectors) was 792 million yuan, a year-on-year decrease of 9.96%.
From January to September 2024, the main export destinations for micrometers, calipers, and gauges are the United States, Russia, Germany, Singapore, India, Spain, Malaysia, and others.
In terms of the import and export unit prices of measuring tools and measuring instruments, compared to products with the same product code, the prices of imported measuring tools and measuring instruments are much higher than the export prices.
The export value of measuring tools (1.117 billion yuan) is much larger than the import value (192 million yuan), while the export value of measuring instruments (448 million yuan) is much smaller than the import value (792 million yuan). The export of measuring tools and instruments has increased significantly, while imports have decreased significantly.
Additional note: Customs data is classified based on customs import and export commodity codes, which may not be completely consistent with industry conventions. The product may not fully include all tool products, or it may include products that do not belong to the tool industry. When calculating the unit price of products, the units for circular saw blades, blades, and band saw blades are in kilograms (kg), while other types of products are measured in pieces.
(Source: China Machine Tool Industry Association Tool Branch Editor in Chief: Zhang Fangli)
